Can You Buy A House Before Selling Your Own?

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Hi everyone. Today I’m going to talk to you for a few minutes about if you are looking to purchase your home before you sell your home or your current home. And this is actually the ideal situation to be in if you are looking to buy and sell. Because you don’t have to worry about having a contingency and worrying about if your home is going to sell in order to get to your next destination.

It gives you the time to really take to find the home that you really desire instead of rushing and things like that. But there are a few things that some of you will be concerned with. For example, yes, you find the home you love, you purchase it, and the home that you were previously in, it still has a mortgage on it. So you’re still paying that mortgage until you do sell your home. And you may be concerned of, “well, when is my home going to sell? I’m tired of paying the double amount.”

So there’s just a few tips I have for you to help you be prepared and not have to worry. One of the first things is that do you really want to sell your house or is leasing it an option for you? Because if you can lease it, then that can potentially give you additional income. And then until your mortgage is paid off, then you may want to decide to sell it or fix it up and then “flip it” so then you’re making even more money than you were before.

So that’s one option that you definitely should consider. So that way you have the option. And the other thing is that you want to make sure that your home is in a salable condition, maybe probably before you start looking for your new home, unless you aren’t concerned about selling your home in a quick time frame once you purchase your new home. So if you are someone who definitely wants to sell your home, as soon as you purchase your next one, you definitely want to have your listing appointment with your Realtor to discuss pricing, what needs to be done to get the home sold and things of that nature. So that way you’re well prepared and you’re not doing that after you purchase so that you’re not delaying on the time of getting the home sold.

So that’s pretty much all I have for you today (on “can you buy a house before selling”). Again, leasing it, putting up for sale and for lease at the same time is another option with an option of having people to rent to own, which means they’re going to be renting it with the option to buy it later on, which could be even better situation for you. So definitely consider that if you are looking to purchase your home before selling your home again, that’s a better position to be in than having to sell before you buy. But hopefully these tips I’ve given you have made you even more reassurance that this is something that’s going to be great opportunity for you. So if you have any questions, just leave a comment below, or you can email me at [email protected]. All right, thanks. Have a good day. Bye.

This has been “Can You Buy A House Before Selling Your Own?” by Patrice Henderson of Designed Living Real Estate.